Annual report ERL 148 Batchelor for the year ended 25 November 2008

Abstract

The Area 55 and Area 55 West prospects are the main areas of interest within ERL 148. The two prospects straddle these and other Compass Resources Pty Ltd held tenements ERL 125 and MLN 1161 to the north and north-west; work completed outside ERL 148 is reported in those respective annual reports. The prospectively of ERL 148 is similar to that of other tenements within the Rum Jungle Mineral Field, with copper, lead, zinc, cobalt, nickel and uranium being the main minerals sought. Considerable work, including drilling since the 1950's, has been carried out within the Area 55 and Area 55 West prospects. Work undertaken during this reporting year included continued resource definition and sterilization drilling and rehabilitation at Area 55, geological modelling, data base creation and validation, GIS development, and resource modelling for the whole tenement. Drilling for the reporting period was wholly focussed on further delineation of the Area 55 resource and the sterilization of immediate surrounds for potential mine infrastructure. Drilling totalled 1122.3 metres. Sixteen holes were drilled for sterilization purposes, and six for resource purposes. The diamond core hole was also used for further metallurgy work in addition to metallurgical holes drilled in the previous reporting period.